Nigeria’s GDP Grows 4.43% in Q2 as Oil Output Hits 4-Year High

By Victor Idajili

Nigeria’s economy grew faster in the second quarter of 2026, with Gross Domestic Product expanding by 4.43% year-on-year in real terms, according to data from the National Bureau of Statistics. 

The growth rate is higher than the 4.23% recorded in Q2 2025.

The NBS report also showed crude oil production rose to 1.72 million barrels per day, the highest level since 2022.

Agriculture recorded stronger growth at 4.39%, up from 2.82% in the same quarter last year. 

The services sector grew by 4.60% compared to 3.94% in Q2 2025 and remained the biggest contributor to the economy, accounting for 56.62% of GDP, slightly higher than 56.53% a year earlier.

Industry growth slowed to 3.96% from 7.46% in Q2 2025.

Oil production averaged 1.72 mbpd in Q2 2026. That is 0.05 mbpd higher than the 1.68 mbpd recorded in Q2 2025, and 0.17 mbpd higher than the 1.55 mbpd recorded in Q1 2026.

The non-oil sector grew by 4.31% in real terms. This was faster than the 3.64% recorded in Q2 2025 and the 3.94% in Q1 2026. 

Growth in the non-oil space was driven mainly by crop production, telecommunications, real estate, trade, financial institutions, cement manufacturing, and construction.

In real terms, the non-oil sector made up 95.84% of GDP in Q2 2026. That share is slightly lower than the 95.95% in Q2 2025 and 96.08% in Q1 2026.

At basic prices, nominal GDP stood at N119.29 trillion in Q2 2026. This represents an 18.43% year-on-year increase compared to N100.73 trillion in Q2 2025.

The report notes that the economy continues to be broadly split into oil and non-oil sectors, with services and agriculture remaining the key drivers of growth.